Pound rockets across the board as Boris hits stumbling blocks
The Pound has jumped today after British Prime Minister Boris Johnson faced multiple setbacks. Sterling has climbed above the 1.23 interbank threshold against the US Dollar, marking a more than 3.0% rise since the levels seen at the start of the week which registered the weakest figures since 2016. Pound sentiment has increased with each blow to Boris’ plan to take the UK out of the EU without a deal, and Sterling experienced another surge when Jo Johnson, Boris’ brother, announced he was quitting the party. The Pound rallied to a five-week high and put in its best two-day performance in six months to gain nearly four cents.
Jo Johnson Tweeted: 'It’s been an honour to represent Orpington for 9 years & to serve as a minister under three PMs. In recent weeks I’ve been torn between family loyalty and the national interest - it’s an unresolvable tension & time for others to take on my roles as MP & Minister. #overandout'
If you’d like to take advantage of this positive market shift or talk to our Dealing team about locking-in an exchange rate, call your Dealer or contact us on +44 (0)20 7989 0000.
Interbank highs so far today:
GBP/USD – 1.2347
GBP/EUR – 1.1172
GBP/AUD – 1.8111
GBP/NZD – 1.9321
GBP/CAD – 1.6292
GBP/NOK – 11.0986
GBP/SEK – 11.9301
GBP/DKK – 8.3342
GBP/CHF – 1.2138
GBP/HKD – 9.6750
GBP/SGD – 1.7087
GBP/ZAR – 18.2828
GBP/JPY – 131.593
(Correct as of 11:51am)